MIRA INFORM REPORT
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Report Date : |
07.02.2012 |
IDENTIFICATION DETAILS
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Name : |
METAL LINK & KGN INTERNATIONAL FZC |
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Registered Office : |
Hamriyah Free Zone,
Sharjah |
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Country : |
United Arab Emirates |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
24.07.2008 |
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Legal Form : |
Free Zone Company |
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Line of Business : |
Traders of metal, steel, and copper rods, wire and fencing products |
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No. of Employees
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04 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
US$ 250,000 |
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Status : |
Satisfactory |
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Payment
Behaviour : |
No Complaints |
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Litigation : |
Clear |
NOTES:
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – September 30th, 2011
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Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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United Arab Emirates |
a2 |
a2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
SUMMARY
Company Name : METAL LINK & KGN INTERNATIONAL FZC
Country of Origin : Dubai, United Arab Emirates
Legal Form : Free Zone Company - FZC
Registration Date : 24th July 2008
Trade Licence Number : 4169
Issued Capital : UAE Dh 75,000
Paid up Capital : UAE Dh 75,000
Total Workforce : 4
Activities : Traders of metal, steel, and copper rods, wire and fencing products.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 250,000
Person Interviewed : Tajinder Singh Dindara, Managing Director
COMPANY NAME
METAL LINK & KGN INTERNATIONAL FZC
company ADDRESS
Registered Address
Location : Hamriyah Free Zone
Town : Sharjah
Country : United Arab Emirates
Physical Address
Location : Jumeirah Lakes Towers, MAK 214, Deira
PO Box : 82072
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 4425280
Facsimile : (971-4) 4425281
Mobile : (971-56) 6055291 / (971-55)
6963652
Email : tajinder@metallink.biz
Premises
Subject operates
from a small suite of offices that are rented and located in the Central
Business Area of Dubai.
KEY PRINCIPALS
Name Nationality Position
·
Tajinder Singh Dindara Indian Managing
Director
·
Depali Tajinder Singh Dindara Indian Director
·
Vivek
Gupta - Commercial
Manager
LEGAL FORM & OWNERS
Date of Establishment : 24th
July 2008
Legal Form :
Free Zone Company - FZC
Trade Licence No. : 4169 (Expires
23/07/2012)
Issued Capital : UAE Dh 75,000
Paid up Capital : UAE Dh 75,000
Name of Shareholder
(s) Percentage
·
Tajinder Singh Dindara 50%
·
Depali Tajinder Singh Dindara 50%
AFFILIATED COMPANIES
·
Aravali
Fence LLC
PO Box: 82072
Jebel Ali Industrial Area
Dubai
Tel: (971-4) 8847724
Fax: (971-4) 8847725
OPERATIONS
Activities: Engaged as traders of metal, steel, and copper rods, wire
and fencing products.
Import
Countries: India
Suppliers:
·
Dubcab Dubai,
United Arab Emirates
·
Emirates Steel Dubai,
United Arab Emirates
Operating Trend: Steady
Subject has a
workforce of 4 employees.
FINANCIAL DATA
Financial
highlights provided by local sources are given below:
Currency: United
Arab Emirates Dirham (UAE Dh)
Year
Ending 31/12/10: Year
Ending 31/12/11:
Total Sales UAE Dh
11,850,000 UAE Dh
13,000,000
Local sources
consider subject’s financial condition to be Fair.
The above figures
were provided by Mr Tajinder Singh Dindara, Managing Director
BANKERS
·
Mashreq
Bank Plc
Deira Branch
PO Box: 1250
Dubai
Tel: (971-4) 2229131 / 2221134
Fax: (971-4) 2233784
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
During the course
of this investigation nothing detrimental was uncovered regarding subject’s
operating history or the manner in which payments are fulfilled. As such the
company is considered to be a fair trade risk.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.48.68 |
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UK Pound |
1 |
Rs.76.75 |
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Euro |
1 |
Rs.63.57 |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
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71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
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56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NB |
New Business |
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This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this report.
The assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
This report is issued at your request without any risk
and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its
officials.